By Gustavo Medeiros, Ben Underhill
The Emerging View

EM Sovereign Debt: The ultra-marathon runner goes on

Inflation has peaked, the capex supercycle rolls on, and EM fundamentals keep improving. We explain why EM sovereign debt, yielding close to 7%, remains one of the most attractively valued asset classes today.

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Weekly investor research

Falling oil prices bring nominal rates lower and real rates higher

Falling oil prices are pulling inflation expectations and nominal rates lower, while resilient US growth lifts real rates higher. We also cover dramatic semiconductor volatility, record Korean chipmaker capex and Vietnam's expansionary fiscal plans.
Weekly investor research

Oil down and risk assets up as US/Iran deal approaches

Risk assets rally and oil falls as a US/Iran deal nears. The ECB delivers its first rate hike in three years, US CPI lands in line as jobs surprise higher, Korean exports jump 46% year on year, and S&P upgrades Argentina to 'B-'.

Latest Insights

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Market Commentary

EM 2021 real GDP growth revised higher

Sell-side economists revised real GDP growth higher in July across two-thirds of emerging markets (EM) and frontier markets (FM) countries, while lower revisions affected one-third of EM economies.
Weekly investor research
Weekly investor research

Inflation peaking in EM

Inflation surprised to the downside across most large EM economies in June.
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Weekly investor research

Temporary dip in EM PMIs amid rapid vaccine rollout

Emerging Market (EM) manufacturing Purchasing Managers’ Index (PMI) declined 0.7 to 51.3 in June. The Chinese monetary policy committee signalled monetary policy should remain accommodative.
Ashmore video
Video

Ashmore EM Review and Outlook - June 2021

Gustavo Medeiros (Deputy Head of Research), Alexis De Mones (Portfolio Manager) and Adrian Petreanu (Portfolio Manager) review the markets and discuss the outlook for EM.
Weekly investor research
Weekly investor research

The OECD revises EM GDP growth forecasts higher

The Organisation for Economic Co-operation and Development (OECD) revised its estimate of global gross domestic product (GDP) growth higher following recent stronger than expected economic data.
Ashmore video
Video

'EM in 10' update

We discuss the outperformance of EM assets in May, driven by a faster vaccination pace across EM countries. We discuss inflation & explain why it is likely to remain elevated in the US throughout the rest of the year, & why it won't be a big deal for EM.